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Nicky Oppenheimer, a South African billionaire, has seen his wealth rise above $8.8 billion in recent times, thanks to a record 10-percent, or $850-million, increase in his net worth.
According to the Bloomberg Billionaires Index, Oppenheimer is the 251st richest man in the world, and the second-richest man in South Africa after Johann Rupert. He is currently worth $8.8 billion.
Despite the impact of Russia’s invasion of Ukraine and the accompanying economic sanctions on commodities, companies, and financial assets in the global equity market, his fortune has increased by $850 million since the beginning of the year.
The Russia-Ukraine crisis, which marks one of Europe’s biggest security crises in decades, has created a looming food and energy crisis, as well as global supply concerns and production disruptions, which experts believe will have a material impact on company operations and asset valuations in the coming weeks.
While some billionaires like Oppenheimer have seen impressive wealth gains from their well-diversified investment portfolios in private equity firms, other billionaires, particularly Johann Rupert, have seen their wealth fall by billions of dollars in recent times.
Oppenheimer’s net worth has increased by 10.7 percent since the start of the year, from $7.95 billion at the start of business this year to $8.8 billion at the time of writing this report.
The double-digit percentage increase in his wealth can be linked to the performance of his private equity investments in Africa, Asia, the United States, and Europe through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
To capitalize on the growth phase of Asian companies and create impressive value, Oppenheimer and his son Jonathan’s family office moved to open an outpost in Singapore in 2021 to increase its Asia exposure and partner with the region’s wealthy.
According to the family, their presence on the continent will help drive investments between Asia and its home market of Africa, as synergies between Africa and Asia will be significant over the next 20 to 30 years.
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